The actor Tony Danza, who first gained fame in the sitcom Taxi, has recently had a better time picking real estate investments than he has projects. His most recent foray into small-screen work, Teach: Tony Danza, was cancelled after just seven episodes. Luckily, Danza has something in the bank for a rainy day, or rather, on the beach. The actor bought this Malibu, Calif. beach house back in 1987 for $1.15M, meaning he stands to make a hefty profit if it fetches anywhere near its $9.1M asking price, a profit he will have to share with his soon-to-be-ex wife. This is no overpriced beach shack either. It has 50 feet of beach frontage, 3,000 square feet, and five bedrooms.
· 25000 Malibu Road [Pritchett-Rapf]
· Malibu Digs of Tony Danza Goes on the Market [The Real Estalker]
Sunday, July 31, 2011
Celebrity Real Estate: Soon-To-Be-Divorced Tony Danza Lists Malibu Beach House
Turf Wars: SoMa Grand Residents to Feds: Clean Up Your Act
[photo via Sally Kuchar]
Turns out living near 7th and Mission can be a little gritty, as SoMa Grand residents are finding out. They share a courtyard with the Federal Building, and when workers leave for the night, residents say that no-gooders turn the courtyard into a drinking, drugging, and urinating free-for-all. This is, of course, the story we hear a lot with the mid-Market area. But when an entity (government or corporation) actually uses a building instead of leaving it vacant, it becomes their responsibility to keep the area clean, lest it reflect poorly against them. Who would SoMa Grand residents complain to if they shared the courtyard with just another boarded up storefront? The Feds have actually committed to station night guards and perform regular cleaning. We wonder if we will see this happen in the rest of Mid-Market during the "revitalization."
· S.F. federal building plaza draws neighbors' ire [SF Gate]
Goodbyes: Sad news for the dozen or...
Sad news for the dozen or so folks who still leave their homes to watch movies. The Richmond District's Balboa Theatre owner Gary Meyer said that this summer he will be leaving his post as operator of the theater, leaving the future of the independent theater in doubt. Meyer said that other obligations and expensive theater upgrades made it difficult to continue as the owner of the Balboa. "I made the decision that in mid-August I will be giving up the theater. My hope is that the theater will survive," Meyer said. [SF Gate/photo via Frank Kelsey]
? Previous: Goodbyes
Katherine Heigl, Landlady: Not content to rest her laurels...
? Previous: Robert Novogratz on Design Mistakes, Budgets, and Stolen Stereos
? Next: Rooftop Infinity Pool Caps Classic 1828 Beacon Hill Townhouse
On the Market: New England Family Compounds Fit For Kennedy-Style Clans
With the famous Kennedy compound in Hyannis Port, Mass. on the brink of dissolving, it's time for a new political dynasty to take over a New England compound. Don't worry, this isn't just a liberal thing, former President George H.W. Bush still maintains the Maine peninsula estate purchased by his family more than 110 years ago. And it's also not exclusively for the fabulously wealthy—even if mounting a campaign seems to be. Just take this rural New Hampshire estate, with classic Gambrel architecture, fifteen bedrooms to house the whole family (and plenty of aides), and 25 acres of privacy. The Springfield, N.H. spread was set to be auctioned to the highest bidder in May, but remains on the market with an asking price of just $399K. That should leave plenty left over for the campaign.
? Not all potential presidential compounds can be so thrifty. This 2.5-acre waterfront estate in Southeast Harbor, Maine might not look like much—there are a few architecturally uninspiring structures on the property—but the location and docks put the price way up at $4.5M. At least the easy access to the wealthy donors who summer on Mount Desert Island would help to offset the investment.
? Things get even spendier further south, like in Provincetown, Mass., near the tip of Cape Cod, where this petite beachfront plot is asking $7.4M. Previously operated as an inn, the seven buildings on the 0.46-acre property manage to squeeze in 26 bedrooms and a private wharf.
? The seaside community of Watch Hill, R.I. is a fitting place for preppy politicos and this historic estate has enough space to host grand fundraising galas. A 20-room mansion in these parts doesn't come cheap. No different here, the three-acre estate is asking $9.9M.
? Connecticut offers up the priciest, and most appropriate, compound. This waterfront estate of more than six acres requires no tweaking to become a generational family residence. There're seven separate buildings, 22 total bedrooms, a stone pier, rolling lawns, and mature trees, all included in the $14.75M asking price.
· Kennedys at odds over compound [Boston.com]
· 253 Philbrick Hill Road [Zillow]
· Shore Rd [Zillow]
· 31 41 Commercial St [Zillow]
· 16 Yosemite Valley [Zillow]
· 24 Wallacks Lane [Zillow]
AM Linkage: Bernal Heights Blues; SF Giants Memorabilia Stolen; Getting To Know Schoolhouse Creek in Berkeley; More!
Saturday, July 30, 2011
Nouvel's MoMA Tower Back On: The 1,050-foot skyscraper planned for a...
? Previous: More Lautner
? Next: John and Cindy McCain's Former House Meets Auction Block
Globe Trotting: Architects Craft Wood Siding Based on the Fibonacci Sequence
Photo via Freshome
Math! We don't write about it all that often but we relish the opportunity to do so when it arises. Thanks to Berlin-based architects Sören Hanft, the Da Vinci Code lives on: the firm (along with architect Jens Casper) has just designed a house whose glazed larch-wood siding was inspired by the Fibonacci sequence. According to the project description, "The horizontal slats of different widths are based in their arrangement on the Fibonacci series of numbers,” creating "an anomaly that affects the design harmoniously." Please make like Robert Langdon and bolt over to Freshome for additional photos.
· Exterior Home Slats Based on Fibonacci Series of Numbers: HHGO Garden Residence [Freshome]
· Sören Hanft [official site]
· Jens Casper [official site]
Big Bucks For Terminal 3: The very fancy and very expensive...
? Previous: No Surface Left Untouched For Pacific Heights Condo
Dwelling: Denise Richards, on just how crazy...
? Previous: This Remote Alaskan Escape Might Be Too Close to the Wildlife
? Next: Tic Tac No...
AM Linkage: Commuters Slide; Farming at San Francisco County Jail; New Speed Limits; More!
Friday, July 29, 2011
[Fragile Stability] 2Q 2011 Long Island Report Available For Download
[click to open report]
The renamed “The Douglas Elliman Report: Long Island Sales 2Q 2011” was published today. It is part of a report series that we have authored for Prudential Douglas Elliman since 1994.
You can build your own custom data tables with the new data.
Here’s an excerpt from the report:
…After considering the impact of the federal homebuyer tax credit that expired in April 2010, the second quarter housing market would be considered generally stable as the price indicators showed mixed results. In addition, both the number of sales and price indicators in the second quarter were driven higher as a result of the stimulus program and therefore comparisons against that period doesn’t reflect parity. The median sales price of a Long Island property that sold in the second quarter was $350,000, down 2.8% from $360,000 in the prior year quarter and unchanged from the prior quarter. Average sales price was $436,143 in the second quarter, 3.1% higher than $422,832 in the prior year quarter but slipped 0.7% from $439,085 in the prior quarter…
Note: I reorganized the submarkets based on your market feedback, removing Middle Island/Nassau, renaming North Shore to North Shore (Nassau) and adding North Shore (Suffolk), South Shore (Nassau) and South Shore (Suffolk). The historical for the 3 new sections was built going back to 1Q 2010.
Other reports we prepare can be found here.
2Q 2011 Long Island Sales Report [Miller Samuel]
Long Island custom data tables [Miller Samuel]
New Home Sales: June 2011
S&P/Case-Shiller: May 2011
On the Market: Gem of a House Designed By San Francisco Favorite Willis Polk
It's a single-family home. That's right. And it's approximately 4,360-square-feet of living space on four levels. There are five bedrooms and five bathrooms. Asking price? $2,595,000. This is a classic (and classy) San Francisco jewel. It was designed in 1917 by renowned architect Willis Polk, who designed San Francisco staples such as the Pacific Union Club, the Palace of Fine Arts, the reconstruction of Mission Dolores and the Hallidie Building.
Property highlights: the master suite takes up the entire top level and has access to a large and private roof deck; the entry level has the guest suite, so you don't have to worry about bumping elbows when you and your guests are both trying to brush your teeth in the morning and the home is located directly across the street from the Mark Hopkins Hotel, so there's that. Property lowlights include no garage and no word on leased parking nearby.
· 843 Mason [Redfin]
PM Linkage: Merry Go Round Celebrates 100 Years; Greening Turk & Lyon; Peralta: Then and Now; More!
Thursday, July 28, 2011
Ask Curbed SF: Mid-Market: OK, What's Going On Here?
A Curbed SF reader sent us the photo above, asking:
There has been some minor construction action at 1401 Market St. for the last 2 days. Seems like they're digging to locate buried pipes/electrical/??? something. Any ideas if they're finally moving toward constructing Crescent Heights?Meaning the big condo project designed by Heller Manus Architects planned for this blockfront of Tenth Street between Market and Mission Streets. The folks at Crescent Heights did not respond to our email yesterday, but hey, they're busy. Meanwhile, it's entirely possible the work is related to an upgrade of the parking lot. Or an EIR? The lot, which is recorded at 1411 Market Street, last changed hands in March, 2006 for $25,000,000, is directly across Tenth Street from the new Twitter headquarters. After the jump, what might have been. If you've got intel on this long-empty lot let us know in the comments.
1401 Market Street rendering c.2007 [Credit: Heller Manus Architects]
Meanwhile, at Ninth Street, the California State Compensation Insurance Fund shed themselves of their 17-story 1275 Market Street in exchange for $48,000,000. From the Wall Street Journal (from behind a subscription wall):
We wanted to take advantage of the market in San Francisco right now," said Denise Burian, the fund's real-estate manager. "The Twitter deal in midmarket San Francisco has positively [affected] the areaThe purchaser is said to be the privately-held TMG Group, presumably seeing the potential in luring start-up or growing tech tenants to the building with the Mid-Market tax breaks.
[Update: And not a moment too soon- as per the SF Business Journal, it looks like the project's been revived as rental units and designed by Handel Architects. Our thanks to guest commenter #1.]
· No Construction Watch: Crescent Heights Condos [Curbed SF]
House of the Day: This Remote Alaskan Escape Might Be Too Close to the Wildlife
Have a nomination for a jaw-dropping listing that would make a mighty fine House of the Day? Get thee to the tipline and send us your suggestions. We'd love to see what you've got.
Location: Sitka, Alaska
Price: $2,189,000
The Skinny: This glassy waterfront retreat sits on a half-acre island off the coast of Sitka, Alaska, connected to the mainland by a 150-foot steel bridge. The next buyer might be wishing it was a draw bridge if the family of bears from the listing photos shows up to the housewarming BBQ—yeah, they look cute, but maulings are a regular occurrence. At least the interiors are plenty welcoming, with a glassy great room, five bedrooms, hardwood floors, and wood stoves. The whole private-island thing has inflated the asking price, though: it's a steep $2.19M. The artwork, furnishings, linens, and even the pots and pans are up for sale, too, but those will cost even more.
· 2202 Sawmill Creek Road [Sotheby's]
· Alaska: Bear in Mauling Won't Be Hunted [NYT]
Behold the $54 Houseboat: Over on Curbed Seattle, they're celebrating...
? Previous: Thomas Juul-Hansen's Old Loft
Real Estate Sold: Nob Hill: Chinese-American Modern Sells at a Discount
This past May we covered 1157 Washington Street, the Modernist urban cottage on the edge of Chinatown, a charming '50s Chinese-American time capsule with great open views of the downtown skyline and the East Bay. The sophisticated little 3-bed, 2-bath house, built in 1954, closed last week for $900,000, $50,000 less than the asking price. It had been "pending" for a while, so presumably there were some contingencies to sort out. No word on whether the classic- and coveted- light fixtures were included, but the house has no parking or outdoor space. Check out the Smithsonian-ready kitchen in the gallery.
· Nob Hill: Mid-Century Chinese-American Time Capsule [Curbed SF]
· 1157 Washington Street [Redfin]
The Richmond Fed Survey of Manufacturing Activity: July 2011
Extended Unemployment: Initial, Continued and Extended Unemployment Claims July 14 2011
Wednesday, July 6, 2011
House of the Day: Moroccan-Style Manse Might Make Houston Neighbors Wince
Have a nomination for a jaw-dropping listing that would make a mighty fine House of the Day? Get thee to the tipline and send us your suggestions. We'd love to see what you've got.
Location: Houston, Texas
Price: $8,900,000
The Skinny: After a tipster slipped us a link to this Moroccan mansion in Texas, we checked and rechecked the location. Surely, this convincing replica couldn't be planted in conservative Houston, but no, it was, all 20,000-square-feet of it. In the inner courtyard, vistors wouldn't be blamed for thinking they were ensconced in a Marrakech manse, with tile detailing, fountains, and no view of neighboring McMansions. With eight bedrooms, eight baths, two guest houses, pool cabanas, and a petting zoo, this palace isn't without its extravagances. At least the owners brought in an authentic Moroccan architecture firm, Arabesque Moresque, to design the unique structure.
· 4 Rivercrest [HAR]
New Home Sales: May 2011
Independence Day: Amazing, Marvelous Examples of Red, White, and Blue Houses
With Independence Day less than a week away, it's high time to feast the eyes on some prime examples of patriotically inclined houses across this fair nation. Have a look above.
New Residential Construction Report: May 2011
Marshall Small Animal PlayPen
Price:
Tuesday, July 5, 2011
Linkage: NYC's Street Art; A Green Roof Pioneer; Indoor Treehouse; More!
Outdoors Week: The Presidio: Get Down and Dirty With the Archaeologists
OK, we know everyone pictured here in the mud was hoping for some gold coins, or bones, preferably a skull, but they did find an early-19th Century terra-cotta roof tile and some pavers. They're volunteers at the Presidio's El Polin Creek community archaeology dig, working over this past weekend to unearth the history of the Tennessee Valley watershed under the supervision of the Presidio Trust's archaeologists. The dig is coordinated with other projects- controlling the seasonal flow of water through the valley and daylighting historic El Polin Creek from its source, creating a visitor-friendly site with a path and boardwalk looping through- and connecting the Native American past, Spanish settlement, the Army, and the present.
Tennessee Valley got its name from the Tennessee regiment that lived there in tents before going off to occupy the Philippines during the Spanish-American War. Long before that, this was the site of seasonal runoff and El Polin Creek, flowing down to Bay and draining into what's now the Crissy Field marsh near the remains of an Ohlone settlement. After 1776, the valley was the route of an unpaved road which connected the Presidio itself to the Mission Dolores via what is now Divisidero Street. Along this road and creek, archaeologists have found remains of the Presidio's earliest non-military adobe structures, dating from 1810 to 1840 belonging to the Miramontes and Briones families (yes, that Juana Briones) who were eventually evicted when the U.S. Army took over. Tennessee Valley was the site of a refugee tent camp after the 1906 Earthquake, In the 1930s the water was channelled downhill in a WPA project and the area was turned into a picnic ground and in the 1950s was partially built over with military housing.
The current project will manage water through the valley with a series of ponds stepping downhill and opening up El Polin, now either buried in culverts or shrubbery, along with a path through the area. More stream daylighting and wetlands restoration is on the calendar, especially down near the new Presidio Parkway, formerly known as Doyle Drive. Want to get dirty? There are lots of volunteer opportunities at the Presidio, some of which don't involve so much mud. Contact Jenny McIlvaine at the Trust for more information.
· "A Splendid Little War" [National Park Service]
· Presidio Archaeology [Presidio Trust]
· Volunteer Opportunities [Presidio Trust]
· Palo Alto: No Love For Adobe [Curbed SF]
Our thanks to the folks at the Presidio Trust: Clay Farrell and Jenny McIlvaine, and archaeologists Eric Blind and Kari Jones. -PF
Blunders of Jesus and Martha Stewart: In today's installment of The Case...
? Previous: Summer's Here!
? Next: Top Dog (Spot) Nominee #2: Pine Lake Park (Stern Grove)
Outdoors Week: Top Dog (Spot) Nominee #4: Fort Funston
As part of Curbed Outdoors Week 2011, we're looking to settle the question once and for all of the city's best dog spot. Didn't get your nomination in in time? Sorry! But there's always next year, right?
From the mailbox:
Fort Funston gets my vote for best place to take doggie friends. My pooch loves running wild on the beach and making the mad dash with the waves. The air is clean and folks with their doggie friends are friendly and well behaved. It's easy to get to Fort Funston and you will find ample parking and free doggie poo bags in case you forget yours at home.
Wondering how the winner will be determined? We'll be running a poll later today.
Update: Due to some unforeseen technical issues, we're going to push the poll to Monday. See you then!
PM Linkage: Pride Parade History in Photos; SF Art Works Win National Honors; Alexandria Theater Sign Is Back; More!
Ipazzport Mini Wireless Keyboard Ipazzport KP-810-08 2.4ghz Wireless Mini Keyboard with Touchpad Mini Wireless Keyboard Touchpad for Htpc (New Qwerty Layout, Just Like Your Huge Keyboard) Multi Touch!!!
1. 2.4G Dsss radio transceiver
2. built-in re-chargeable lithium-ion battery
3. backlit for operation in darken room
4. plug and play
5. large PAD for hand-writing
6. portable size:60mm*100mm*10mm
7. charge voltage/current:5v/300mA
8. standby time: 600 hours
9. qwerty keyboard
10. built-in laser pointer(optional)
11. Wireless remote control of your PC up to 33ft. (10m)
12. Single-hand operated
13. Adds a professional lecturing and teaching tool to presentations
14. Plug and play e. Backlit keyboard for convenient operation in darkened room.
15. Large PAD for handwriting
16. 2.4GHz DSSS radio transreceiver
17. Dimension: 60mm*100mm*10mm
18. Weight: 50g
Price:
Monday, July 4, 2011
Bits Bucket for June 25, 2011
QE2 was supposed to turn things around for the middle class and provide the poor with a nice little prosperity boomlet. Instead the poor are competing with many of their middle class neighbors for jobs and food stamps.
If the latest reports are any indication, there isn’t much chance things will improve any time soon.
Here’s the ugly truth:
Townhall.com
The Fed is winding down Ben Bernanke’s experiment in money printing called “QE2?. He trumpets his success saying that QE2 has pointed the U.S. economy “in the right direction.” But did it really? It turns out that QE2 has created maybe 700,000 full-time jobs, but at a cost of about $850,000 for each job.
All QE2 did was create a boom in the stock market. Wall Street bankers reaped millions while the average investors barely made back some small amount of the money that they lost during the 2008 crash.
Thelma and Louise
Obama: Are you sure we should be printing and spending like this, I mean in broad daylight and everything?
Bernanke: No we shouldn’t, but I want to put some distance between us and the scene of our last goddamn crime. »
Obama: But, umm, I don’t know, you know, something’s, like, crossed over in me and I can’t go back, I mean I just couldn’t live.
Bernanke: I know, I know what you mean. Anyway, don’t wanna end up on the damned Geraldo show. »
Obama: I don’t ever remember feeling this awake. »
Bernanke: I know it’s crazy, but I just feel like I got a knack for this sh#t.
Obama: I believe you do. »
Bernanke: I’ve had it up to my @ss with sedate. »
Obama: OK, then listen, let’s not stop.
Bernanke: What’re you talking about?
Obama: Let’s keep on going.
Bernanke: What do you mean?
Obama: Go.
Bernanke: You sure?
Obama: Yeah, yeah. Let’s. » QE3eeeeeeeeeeeeeeeeeeeee
Fifth Avenue Grandeur: Over the weekend, the listing hit...
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? Next: Dirty Denim Couch Has One Long Island Town in a Total Tizzy
Outdoors Week: Top Dog (Spot) Nominee #2: Pine Lake Park (Stern Grove)
As part of Curbed Outdoors Week 2011, we're looking to settle the question once and for all of the city's best dog spot. Nominate your favorite for eternal glory by writing us a short description of what makes it so great and why your dog loves it. Nominations to sf@curbed.com, please.
[photo (minus the snazzy frame) Dog Goes]
From the mailbox:
Stern Grove is SF's best dog spot for many reasons! It's a nice valley
adjacent to the Stern Grove concertgoers know and love, but it's
separate, with its own parking lot, etc. Since it's a valley, it's
harder for less reliable pets to get away from you -- while most dogs
can beat people on a flat surface, most of us can catch up to them
once they start to climb a hill.There's a large off-leash section that's typically filled with a cast
of regulars, all of whom are keeping an eye out for each other from
the grass or on benches, and a nice quiet on-leash walk around a pond
and picnic area, so you get a little of everything.There's a moderately sized parking lot that's typically used only by
those going to the park, so it's not as crazy-intense at Crissy's
lots, for example. So that's a plus, too.
Think your dog spot is better? Your nominations to sf@curbed.com, please.
Top Dog Spot: Top San Francisco Dog Spot: Cast Your Vote!
As a result of a technical issue, a few Outdoors Week posts didn't make it onto the site last week. You'll see them here today.
It is time, time to vote on the best spot in San Francisco to take your pooch. We received four nominations: Allyne Park, which is a "hidden Oasis in the hustle and bustle of Cow Hollow." Pine Lake Park (Stern Grove), "since it's a valley, it's hard for less reliable pets to get away from you." Huntington Park, where "everyone and their dog is relaxed." And lastly, Fort Funston, where "my pooch loves running wild on the beach and making the mad dash with the waves." Tell us, dear readers, which is best? There can only be one. Cast your vote below!
Lower Loan Limits: Let the Games Begin
Outdoors Week: Seeking Pics of Passive-Aggressive Dog Clean Up Signs
To get back to Outdoors Week, we're asking readers to submit photos of signs about picking up after a dog does its business. If you walk these streets, you know dog owners not picking up after their pet(s) is a real problem. Neighbors often take matters into their own hands and post notes around their 'hood. A good example would be the sign Beth Spotwood saw in the Mission where she lives, which you can see to the right. Have you seen a great sign around your 'hood that you'd like to share? Snap a pic and send it our way at sf@curbed.com.
· Beth Spotswood and Her Suburban Mission [Curbed SF]
Sunday, July 3, 2011
Outdoors Week: Twenty-Two Rooms, Coming Soon to a Presidio Near You
Pershing Hall gets a makeover. [Photo Credit: Curbed SF]
The Presidio has no lack of venues to throw a good party, but aside from overnight camping, no options for spending the night after all the heavy lifting. That will change in the Spring of 2012 when the twenty-two room Inn at The Presidio opens. Currently undergoing seismic retrofitting, the historic Pershing Hall will become a bed-and-breakfast operated by Waterford Hotels and Inns, the same people who brought us Cavallo Point at Fort Baker at the other end of the Golden Gate Bridge. Although there's no catering or restaurant planned for the c.1904 red-brick classic, they're looking forward to some future wedding business with the non-denominational Chapel of Our Lady next door and the Officer's Club in the same block. Also a great place to crash after an exhausting day at that triumph of the anthropomorphized mouse, the Walt Disney Family Museum. With The Presidio's broad roster of tenants, there's an opportunity for business travelers along with the usual suspects- history buffs and tourists. Just no brunch.
· Event Spaces at The Presidio [The Presidio Trust]
· Waterford Hotels & Inns [Waterford]
· Walt Disney Family Museum [Disney]
Jac Zagoory Ripple Pen Alley Way - Racy Real Estate Fountain Pen - JZ-PEN49-F
The fountain pen comes with an ink converter to allow you to use bottle ink or to efficiently flush clean the pen with water from time to time.You may use international size ink cartridges if you prefer.
Price: $78.00
Globe Trotting: Question: Does This Office Resemble Female Genitalia or Not?
Fast Company's design blog is getting down with its bad self and calling out the overwrought, poor taste of the new Shanghai offices of architecture firm Taranta Creatives. Most prominent in the space is a dramatic white staircase painted red inside that's meant to be “reminiscent of a large droplet of water ready to fall from the ceiling" but is actually reminiscent of lady parts. ("Once you see it, you can’t unsee it," Co.Design editor Suzanne Labarre correctly states.) Ascending the staircase brings you to the upper level, where workspaces appear to be dropped through the floor, thus turning the floor into a "desk" and giving anyone seated a prime view up the skirts of those walking around. All in all, we're talking "classy" with a capital "K."
· Design Crime: An Office Shaped Like Lady Parts [Co.Design]
· Red Town Office by Taranta Creations [Dezeen]
Comment of the Day: "Worse tha Anthony Weiner's Peenie! Ewww....
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? Next: Five Far-Flung Foreigners with Breathtaking Outdoor Spaces
[Observer] Scraping the Bottom of The Power 100
Last night the Observer’s Power 100 got to rub elbows (aka back slap) with each other on a job well done. After all, I have it on good authority that the selections for the Power 100 were based on a highly scientific analytical process. Something akin placing your finger in a light socket.
I’ve made the list 3 out of the past 4 years since its inception – but this year I fell to 99th place and lamented tongue-in-cheek about it on Curbed a few weeks ago.
Barbara Wagner of Rubenstein made sure this epic photo got taken – the bottom of the barrel that is the Observer Power 100. Lock is the blogfather of modern real estate and Steve is an in-the-trenches real estate reporter who has no claims to the LOL NYPost headlines of the past few weeks.
Copyright © 2011 Patrick McMullan Company, Inc. All Rights Reserved.
[left to right with rankings]
99 – Moi
100 – Steve Cuozzo, Reporter, New York Post
98 – Lockhart Steele, Founder, Curbed Network
Saturday, July 2, 2011
Outdoors Week: Yo Ho Ho and a Bottle of Rum: Four Houseboats to Call Home
What's better than just being outdoors in the Bay Area? Living on the Bay, silly! Today we bring you four houseboats to call home in Sausalito -- whether for good or just for a night.
· 10 Issaquah Dock [Redfin]
· 17 Gate 6 1/2 Road [Redfin]
· 27 E Pier [Redfin]
· Sausalito Floating Home (Houseboat) [airbnb]
· San Francisco / Sausalito Houseboat [airbnb]
More Pain, Less Gain: S&P/Case-Shiller Preview for April 2011
Real Estate Sold: It's Been a Healthy Week For Residential Real Estate
Quite a few checks have been written for real estate this week, so let's take a look at the most intriguing sales of the bunch.
3362 Jackson, which was put on the market in April, sold on the 21st for $9,250,000. Chump change, right? Well, the buyer got a "deal," because the completely revamped 6-bed, 7-bath, 3-car home in Presidio Heights was originally asking $10,000,000. Eight figures. Goodness. Is it martini hour yet?
Next up is 3169 Cesar Chavez. The 3-bed, 1-bath mega fixer-upper that was asking $529,000 back in March. It features the world's most narrow driveway,* which is actually a blessing because it's long and pushes you back from the hustle and bustle (and noise) of Cesar Chavez. It sold on the 21st as well, and for over asking at $599,000. Congrats to the lucky buyer. We can't wait to see what you do with the place!
And lastly we have 114 Shakespeare. The extremely adorable private cottage in the middle of a double lot. We loved this 2-bed, 1-bath home immediately. Especially since it was asking $459,000. It sold on the 23rd (yesterday) for $540,000, almost $100,000 over asking. Serious props to the seller, who bought the place in 1998 for $192,500.
*that's not true
· Presidio Heights: 3362 Jackson, Ready for a Comeback, $10M [Curbed SF]
· 3362 Jackson [Redfin]
· Bernal Heights/Inner Mission Fixer-Upper is Rather Charming [Curbed SF]
· 3169 Cesar Chavez [Redfin]
· Extremely Adorable Cottage Is Asking Under $500,000 [Curbed SF]
· 114 Shakespeare [Redfin]
Foreigners Make Run on US Housing Market
Gravitywire: Architects Build Rotating Zero-Gravity Room Here on Earth
Photo via Architizer
The fact that furniture is firmly planted on the ground—or the ground is indeed the ground—is apparently something too often taken for granted. Hence, the guys of Chicago-based architecture/design firm Bureau Spectacular have just created (what we're assuming is) the world's first zero-gravity simulation room in a Los Angeles backyard. Called Phalanstery Module, the circular wooden structure rotates so that a different surface becomes usable every 15 minutes, thus proving true the idea that "in zero-gravity, one can rotate in architecture and treat all surfaces as plans—i.e., walls, ceilings and floors. Without gravity, all surfaces can be occupied. The distinctions between orthographic drawings become obsolete." Architizer has time-release photos that document how the module changes over the course of an hour. Funny random fact: if two people are inside the room at once, they'll collide ever 7.5 seconds.
· In an LA Backyard, a Zero-Gravity Dirigible [Architizer via Gizmodo]
· Bureau Spectacular [official site]
Bits Bucket for June 24, 2011
Little loosy goosy with your bold facts there Mr Que-Dan?
The worlds loses 42 million barrels of day of production due to Libya being off line
Top World Oil Producers, 2009
(Thousand Barrels per Day)
Country * Production
1 Russia* 9,934
2 Saudi Arabia* 9,760
3 United States* 9,141
4 Iran* 4,177
5 China * 3,996
6 Canada* 3,294
7 Mexico * 3,001
8 United Arab Emirates * 2,795
9 Brazil * 2,577
10 Kuwait* 2,496
11 Venezuela * 2,471
12 Iraq * 2,400
The U.S. Energy Information Administration (EIA):
Data through 2009 by country, region, and commercial group (OECD, OPEC) for 217 countries including total and crude oil production, oil consumption, natural gas production and consumption, coal production and consumption, electricity generation and consumption, primary energy, energy intensity, CO2 emissions and imports and exports for all fuels.
Anywho, now that Iraq can get back to having it’s native peoples fight over the control of the golden-black-goo-egg revenue$$$$$$ they’ll rapidly utilize Free Market motivation$$$$$$ to pump out as much as possible A$AP!
Go Iraq! You can do better than Libya, go team, GO!
Friday, July 1, 2011
We’ll Never See One Like This Again
The Portland Daily Sun reports from Maine. “The US Department of Housing and Urban Development (HUD) feels your pain, Maine, and has decided to pony up some checks. The program is named the ‘Emergency Homeowners Loan Program’ is set up for people that have fallen behind in their mortgage payments due to unemployment, reduction in hours, or medical issues. The program is a ‘bridge’ loan for those who are in foreclosure, pre-forclosure, and in some cases can range from $35K to $50K for a zero-interest two-year ‘loan.’ Ah, but the crafty reader will notice that I put the word ‘loan’ in quotes. It is specifically mentioned that ‘in some cases, the loan would not need to be paid back.’”
“Since the money is supposed to be used to pay a ‘portion’ of your past due loans, and legal fees, and interest, it might be important to know how much you are getting on the hook for, even if ‘it might not need to be paid back.’ Then, there is the ‘chance’ aspect of this program. No idea of how many folks qualify, no picture of how the money is going to be split up, and a make-it-up-as-you-go-along approach has led to a decision. The ‘Pre-app’ folks who get approved will be entered into a “Lottery” system, and the winners of that lottery will be the ones to get a loan.”
“Makes that childhood game of ‘Monopoly’ with the ‘Chance’ card seem simple by comparison. At some point, national housing policy has to go beyond ‘Monopoly’ and into a game with a little bit more deductive reason to it … like ‘Clue.’”
The Enterprise Record in Massachusetts. “Alfred Smith found himself without a job last December and trying to keep up with his home mortgage and daily expenses. Smith is hoping – praying even – that he will still qualify for the $1 billion Emergency Homeowners’ Loan Program, which was set up in last year’s Dodd-Frank bank reform bill and was a program that Brockton residents asked for in a 2009 meeting in the city with U.S. Rep. Barney Frank.”
“It comes just in time for Smith, a 57-year-old father of two whose new job pays less than what he received as unemployment compensation. ‘That would mean everything. It would be a brand new start in life at this point,’ he said. ‘That’s how serious it is.’”
“NeighborWorks spokesman Douglas Robinson said the program will direct $61 million in loans to Massachusetts residents. With an average loan of approximately $35,000, that would cover only 1,740 people statewide.”
The Daily Hampshire Gazette in Massachusetts. “Tini Sawicki, who owns Prudential Sawicki Real Estate in Amherst and is the western region VP for the Massachusetts Association of Realtors, described the market as ‘in limbo’ right now. ‘It’s hard right now to anticipate the market,’ said Sawicki. ‘We’re busy, but we should be busy at this time of year. There are more people out there looking, but some are a little hesitant to pull the trigger.’”
“Homes in Hampshire County are selling and many agents believe now is a good time to buy. Interest rates are low and home prices, after a several-year decline, will likely begin to go up again. ‘If I could, I’d be buying up property right now,’ said Linda Rotti, sales manager of the Jones Group Realtors office in Amherst.”
“Selling a house in Hampshire County is taking longer. Selling prices, meanwhile, are relatively stable in Hampshire County through the first four months of the year, though they are down considerably since the recession began a few years ago.”
“Though those numbers paint a stable picture, there are homeowners attempting to sell who end up taking a hit. Some people who have owned their homes for some time are selling for less than they hoped for, while relatively new homeowners are finding it hard to sell their house and cover the loan and an agent’s commission. ‘If you bought a house two, three, four years ago, you’re probably going to have a hard time selling it and covering a commission,’ said Sawicki. ‘Buyers are looking for quite a while, going to open houses and are very educated. Sellers have taken a bigger hit than they’d like.’”
The Providence Journal in Rhode Island. “May sales statistics from the Rhode Island Association of Realtors show a 5.26-percent increase in the median house price, to $210,000, but the number of houses sold fell 10 percent, compared with a year ago. Stephen Antoni, president of the state Realtors’ group, said he was glad to see a median price increase occur without the support of the tax credit.”
“The Realtors’ association also reported that the number of houses available for sale was at a high of 6,602 in May, up 12 percent from May 2010. The inventory has not surpassed that number since August 2008. Distressed properties — foreclosures and short sales — accounted for nearly 27 percent of house sales statewide in May. But in some urban areas, such as Woonsocket, Pawtucket and Providence (not including the East Side), the distressed segment accounted for closer to 50 percent of sales.”
“Antoni said that ‘overly stringent’ lending requirements continue to hamper sales. ‘If we want to see more sales, lenders will need to begin setting reasonable qualifying standards so that credit-worthy people can buy homes.’”
“Antoni said that during the housing boom, some lenders were qualifying people ‘by taking a pulse,’ but now, ‘that pendulum has swung a little too far in the other direction.’”
The Hartford Courant in Connecticut. “Pending sales of single-family houses in Greater Hartford rose by 41 percent in May compared with a year ago. ‘The jump in pending sales may be a signal that the market has finally corrected itself a year after the expiration of the housing tax credit,’ Greater Hartford Association of Realtors President and CEO Jeff Arakelian said. ‘Affordability and an abundant inventory make this market a great time to buy.’”
“Pending sales are a widely watched indicator of sales that might close in the next 45 to 90 days. The region’s housing market still suffers from other problems. Sales of single-family houses dropped by 28 percent in May compared with May 2010 in the 57-town area tracked by the association.”
“Throughout the nation, stringent mortgage underwriting also is holding back the market, said Lawrence Yun, chief economist for the National Association of Realtors. ‘Lenders and bank regulators need to be mindful of the historically low default rates among mortgage borrowers of the past two years,’ Yun said.”
New Hampshire Public Radio. “About 900 acres surrounding the Mount Washington resort in Bretton Woods have been sold at a foreclosure auction. NHPR’s Chris Jensen reports. The foreclosure was the end of a grand plan launched in 2008. The developers promised a huge resort community with 900 homes. But the economy ended that.”
“Charles Adams headed up that development group. In 2008 Adams headed up the developers who promised a resort community with hundreds of new homes and a shopping area tucked around the Mount Washington Hotel. ‘It has definitely been a long three to four years as we’ve watched everything just plummet, but real estate in particular is way beyond the great recession, I think it has definitely been a depression for real estate.’”
“Adams estimated his group owed Wells Fargo about $38 million. There were only two bidders. The selling price was $10.5 million dollars.”
The Union Leader in New Hampshire. “The number of building permits issued in the Lakes Region took a nosedive between 2005 and 2009, according to the Lakes Region Planning Commission’s 2010 annual report on development activity. Russ Thibeault of Applied Economic Research of Laconia has been providing research since 1976. High priced residential properties have sold, but overall the residential market is soft and prices are down, he said.”
“The LRPC report reflects the state of the market several years ago. ‘Where we are now is bouncing off the bottom. The current state of the market is depressed, but stable,’ he said, adding the consumer confidence has to go up for the housing market to improve. ‘It takes awhile for housing markets to recover. I don’t think we’ll ever see one like this again — it’s going to be a long recovery — but things aren’t falling apart anymore,’ he said.”
“He said the report reflects market conditions, but is not a negative mark on the appeal of the Lakes Region. ‘This is a matter of market conditions. The housing market continues to be in the doldrums. It’s difficult to get financing today, and on the other hand, the housing market is soft. Last year was the softest year ever for permits in New Hampshire, and we felt it,’ said Thibeault. ‘People shouldn’t think the Lakes Region turned into New Jersey,’ he said.”
The Montclaire Times in New Jersey. “What will it take to jump-start redevelopment along the stretch of Bloomfield Avenue east of Elm Street? That ailing segment of Montclair’s main street is home to a vacant multistory condominium complex where construction has stopped. Officials adopted a redevelopment plan for the area in September 2007, and ‘there has been no activity since then,’ Township Planner Janice Talley told The Times.”
“Anchored around the Bay Street Train Station, the neighborhood has ‘all these amenities nearby’ and is expected to draw developers and capital. There has already been a residential boom around the train station, with the Montclair Mews townhouses and the new Montclair Residences at Bay Street Station cropping up close by. ‘What we haven’t seen is new commercial development,’ Talley said.”
The Wall Street Journal. “New York state homeowners whose properties are worth less than their mortgage balances tend to be more underwater than borrowers in any other state, a reflection of high home prices and high leverage. Price declines, the primary culprit for negative equity, were less pernicious in New York than in the hardest hit states.”
“But because New York home prices are higher than in most other states—driven partly by the multimillion-dollar price tags in parts of Manhattan, Westchester and Long Island—even a small percentage price decline can result in a substantial level of negative equity. ‘Generally speaking, if you’re upside down, the higher the value of the geography, the deeper underwater you are,’ says Sam Khater, an economist with CoreLogic. ‘When someone’s upside down, they’re upside down by a lot—they tended to over-leverage.’”
“Homeowners in Connecticut had a similarly high level of negative equity in the first quarter, with an average of $111,430. In New Jersey, the average level of negative equity was $77,474. When breaking down the data for the tri-state region by county, owners of Manhattan condominiums and single-family homes had the largest average amount of negative equity—a whopping $1.35 million, according to CoreLogic.”
“In the wealthy town of Chappaqua in Westchester County, median values have fallen to $764,250 as of Monday from $1.12 million at the top of the market in 2007, according to Houlihan Lawrence, a Westchester-based brokerage. After Manhattan, Brooklyn’s underwater borrowers are the deepest in the hole, with an average negative equity of $202,404. In Fairfield County, Conn., the average difference between mortgage debt and property value is $176,038. In Bergen County, N.J., it’s $120,740.”
“‘It just shows even though we’re a market with very little foreclosure activity, there’s clearly a lot of exposure to default,’ says Jonathan Miller, the chief executive of Miller Samuel Inc., a New York-based appraisal and consulting firm.”
The New York Observer. “The Observer recently reported that the first 10 apartment tenants had signed at 25 Broad, bringing the failed condo conversion back to life as a rental—and Lehman Brothers, twitching, back with it. Not even three years after the bank’s collapse took the economy with it, Lehman, through its holding company, lives on, a rosy zombie quietly looking to make a small fortune off prime New York properties, and maybe—just maybe—pay off some creditors.”
“In other cases, Lehman is poised to stick it out a few more years. The garish former condo at 25 Broad is currently in receivership, but Lehman Holdings could take control as early as the fall. In a little-known plan, Lehman is in the final stages of foreclosing on a failed condo conversion at 325 West Broadway that it may renovate.”
“In the end, Lehman hopes to liquidate its New York assets by September 2013, though the effort has proved to be a struggle as creditors are busy fighting over the last valuable vestiges of the once-great investment bank. Said one source familiar with the liquidation: ‘It’s a shit show.’”
Outdoors Week: Incredibly Sad, Sorry Outdoors Spaces Advertised on Craigslist
People use Craigslist for all sorts of things, from exploiting the Rapture to selling off pathetic-looking mattresses that are endowed with sexual preferences. Much like Craigslist personal ads, its housing and real estate pages are rife with people lying through their teeth. (They are also rife with Photoshopping adventures, which is why all the photos shown on this post are reproduced exactly as they appear in their Craigslist ads. Authenticity, people!) Take this NYC apartment (above), which seeks a roommate pay $1,650 for a room with an attached "800 square foot private outdoor roofdeck!!!!!!!" We'll give the post author due credit for possessing outdoor space anywhere in downtown Manhattan, but to describe that slab of asphalt with the words "Yes, it is private and amazing"? We thinketh not, friend!
? Keeping things in NYC for a second, here's a plea for a "chill" third roommate in an East Village duplex penthouse. Truth be told, $1,500 is not an astronomical sum to pay for such accommodations in Manhattan—and that roof deck does look pretty sweet—but "2 mid 20's girls. We are friends and hang out often" and "One works and the other is an entrepreneur so works from home half the time" are two must-heed warning signs. Never mind the use of the word "chill" to describe a human temperament.
? A housing share in the Philly suburb of Conshohocken boasts a
"[n]ice back yard with gardening space able to be shared," but one would never know it from these photos. There is, however, a cluster of tulips. a rusty-looking hose reel, and some rakes—always a plus when you're asked to drop $600 a month to share a space with "2 nice, well trained dogs & 2 indoor/outdoor cats."
? Truth be told, this five-bedroom, 4,500-square-foot Plantation, Fla., house asking $750 a month is not a bad deal, not at all—two living rooms and a poker rooms are included in the deal. The pool looks awesome, too—oh wait, there seems to be one of the "30 year old male working professionals" jumping in.
? Also near Miami is a 1,450 square-foot three-bedroom townhouse whose tenant is searching for someone to pay $600 a month. There are supposedly "outdoor living spaces," but all the evidence points only to the driveway and backyard parking spot.
? Out West, there's a two-bedroom, one-bath house asking USC students to pay $800 per month. *We have beautiful landscaping with Malibu lights that is very pleasant and we provide free gardening service," the ad claims. Yet all that's apparently from the the photo is an sad, sorry empty lot and a house with a sign on its head. C-O-L-L-E-G-E!
· Otherworldly Real Estate Opportunities Created By the Rapture [Curbed National]
· Is This Sad, Slumped Mess the World's First Openly Gay Sofa? [Curbed National]
· $1650 A Bedroom for rent w/ Private outdoor roofdeck (SOHO/NOLITA) (map) [Craigslist New York City]
· $1500 Looking for chill 3rd roommate! Awesome outdoor space (East Village) (map) [Craigslist New York City]
· $600 Room Furnished or Unfurnished /Houseshare (Conshohocken) [Craigslist Philadelphia]
· $750 Room in 4500 sq ft house (Plantation) [Craigslist Miami]
· $600 Flatmate wanted for 3BR 1.5BA on NE 18th Ct near Wilton Manors Drive (NE 18th Ct) (map) [Craigslist Miami]
· $800 NEW LUXURIOUS 2 BD HOUSE 5 MIN WALK TO USC AVAILABLE 8/1/2011 (Los Angeles, USC, 90007) (map) [Craigslist Los Angeles]
· All Outdoors Week posts [Curbed National]
Get Rich Buying Real Estate Foreclosures
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